Pro-G has conducted an interview with Bethesda's Pete Hines, in which they primarily focus on the upcoming Shivering Isles expansion pack for The Elder Scrolls IV: Oblivion. One question does deviate from the rest, though:
Q: With the success of World of Warcraft, have you ever considered The Elder Scrolls online?
A: We get asked that a lot. The problem is that they are very different experiences. If you play Oblivion then everything you do in the world is about permanence - the world literally revolves around you. I finished that quest, it stays finished and if I kill someone he stays dead. With MMOs anything you do in World of Warcraft can be done by someone else two minutes later. That guy is going to respawn two minutes later and that other guy still needs a trinket even though you just gave it to him. Certainly, there's a chance, it's something we've talked about, but it's not anywhere in our immediate future. I don't think we could do an MMO unless it was with some fresh idea that no one has ever tried before.